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Thread: the other sides of eBay and Amazon

  1. #1

    the other sides of eBay and Amazon

    Selling on eBay and Amazon can generate extra cash or even become a full time living.
    But knowing the way it works can help you avoid many problems.
    Taxes: if you sell over $25 k with the year eBay will send you a 1099 form and you will have to file it on your taxes.
    Should you pay an accountant or do it yourself?
    Doing your own taxes with an APP like Turbo tax can save you money, but you can miss stuff and get into trouble if you get it wrong and get audited.
    Paying a Fast Tax place is like getting Fast Food, I once did my taxes and was getting a refund of about $1200 , brought my paperwork to a Fast Tax place and the guy looked it over and told me I would owe $800 plus would have to pay him $120.
    So really it all depends on your situation and your disposition.
    I still use turbo tax and I have online sales, rental properties, investments plus other taxable situations.
    The saying if you want something done right, do it yourself! has truth to it.
    But be wise about your situation, asking a unbiased professional about your situation can enlighten you to possible mistakes or pitfalls.
    But if you are like me, picking others brains and doing it yourself may be the way to go

    I will continue this topic with tips about:
    Registering for: Paypal, Ebay, Amazon, a Corporation, Fictitious Name, Bank Account, etc
    Returns Disputes and Warranty
    Dos and Don't s
    Creating listings and Prices
    Sourcing and Buying Smart
    Ebay Rules and Ratings
    Amazon Rules and Ratings
    Other online selling websites
    Business Accounts
    Last edited by BrokenGuy; 07-22-2017 at 05:04 AM.
    Even a Broken Clock is right twice a day!

  2. #2
    Performance Ratings on eBay
    Found out the hard way that ebay will charge you an extra 4% (over the usual 10% they charge) if you have a "Below Standard" seller level rating.
    That equals about 14% per transaction total, so for instance if you sell $15k a month that's an extra $600 you are paying or rather $7200 a year in ebay fees.
    Now the below seller rating can be the result of a combination or simply one bad thing you did or didn't do as a seller.
    In my case it was from "resolution cases lost" eBay has seller and buyer protection systems in place. If a buyer complains and we don't resolve the issue they can file a complaint (open a case) , after a time period if the case remains unresolved buyer or seller can "escalate the case to eBay"
    If the case is decided in the buyers favor it goes against you (the seller) and will remain as a metric against you until it is over 12 months old.
    The metric is less than .50% in transaction defects or more than 2.00% (confusing huh) how does 3 of 670 transactions equal .5% ?
    Anyway the point here is, be careful when allowing eBay to decide a case, if you lose it may cost you much more than what that item is worth.
    I had won a few cases and thought surely I would win one where I listed the item as "sold as is, Not working" "no returns accepted" (I didn't win)
    eBay "allows returns no matter what your terms say"
    Credit card companies "allow refunds with no item returned"
    Rule of thumb "always accept returns" and hope the buyer doesn't check the box "not as described" or "defective"
    Even a Broken Clock is right twice a day!

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